SkyWest (SKYW) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of SkyWest (NASDAQ:SKYW) from a hold rating to a strong-buy rating in a research note published on Thursday morning. Zacks Investment Research currently has $57.00 price target on the transportation company’s stock.

According to Zacks, “SkyWest, Inc. is the holding company for two scheduled passenger airline operations and an aircraft leasing company. SkyWest’s airline companies provide commercial air service in cities throughout North America with nearly 3,000 daily flights carrying more than 53 million passengers annually. SkyWest Airlines operates through partnerships with United Airlines, Delta Air Lines, American Airlines and Alaska Airlines. ExpressJet Airlines operates through partnerships with United Airlines, Delta Air Lines and American Airlines. Based in St. George, Utah, SkyWest continues to set the standard for excellence across the regional industry with unmatched value for customers, shareholders and its nearly 17,000 employees. “

Other analysts also recently issued research reports about the stock. Deutsche Bank raised their price objective on shares of SkyWest from $47.00 to $55.00 and gave the stock a buy rating in a research report on Thursday, October 26th. BidaskClub cut SkyWest from a strong-buy rating to a buy rating in a report on Friday, December 15th. Cowen reiterated a buy rating and issued a $60.00 target price on shares of SkyWest in a report on Tuesday, January 9th. Imperial Capital increased their target price on SkyWest from $38.00 to $47.00 and gave the stock an in-line rating in a report on Tuesday, October 31st. Finally, ValuEngine upgraded SkyWest from a buy rating to a strong-buy rating in a report on Sunday, December 31st. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and four have given a strong buy rating to the company. The stock presently has an average rating of Buy and an average target price of $52.20.

Shares of SkyWest (NASDAQ SKYW) traded up $1.50 during mid-day trading on Thursday, hitting $54.75. The stock has a market capitalization of $2,840.00, a P/E ratio of -21.06 and a beta of 1.77. SkyWest has a 12 month low of $30.40 and a 12 month high of $55.15. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 1.61.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings data on Wednesday, October 25th. The transportation company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.98 by $0.03. The company had revenue of $831.93 million during the quarter, compared to the consensus estimate of $817.43 million. SkyWest had a negative net margin of 4.15% and a positive return on equity of 11.87%. The company’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.90 EPS. research analysts expect that SkyWest will post 3.33 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, January 5th. Investors of record on Friday, December 29th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend was Thursday, December 28th. SkyWest’s dividend payout ratio is currently -12.31%.

In related news, COO Terry Vais sold 12,075 shares of the stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $51.52, for a total value of $622,104.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Wade J. Steel sold 4,500 shares of the stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $47.00, for a total value of $211,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 154,239 shares of company stock worth $7,512,577. 3.50% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of SKYW. SG Americas Securities LLC lifted its stake in SkyWest by 1.5% during the 2nd quarter. SG Americas Securities LLC now owns 9,262 shares of the transportation company’s stock valued at $325,000 after acquiring an additional 133 shares in the last quarter. Legal & General Group Plc lifted its stake in SkyWest by 9.1% during the 2nd quarter. Legal & General Group Plc now owns 93,386 shares of the transportation company’s stock valued at $3,277,000 after acquiring an additional 7,821 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in SkyWest by 108.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,860 shares of the transportation company’s stock valued at $100,000 after acquiring an additional 1,488 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new position in SkyWest during the 2nd quarter valued at $3,499,000. Finally, CIBC World Markets Inc. lifted its stake in SkyWest by 51.0% during the 2nd quarter. CIBC World Markets Inc. now owns 40,103 shares of the transportation company’s stock valued at $1,408,000 after acquiring an additional 13,547 shares in the last quarter. Institutional investors own 90.75% of the company’s stock.

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About SkyWest

SkyWest, Inc is the holding company for two scheduled passenger airline operations and an aircraft leasing company. SkyWest’s airline companies provide commercial air service in cities throughout North America with nearly 3,000 daily flights carrying more than 53 million passengers annually. SkyWest Airlines operates through partnerships with United Airlines, Delta Air Lines, American Airlines and Alaska Airlines.

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